Wisconsin Foreclosure Activity Falls in August

Statewide  filings down 15 percent from July

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — fell in  Wisconsin, where 3,841 properties were reported in August, a 15 percent  decrease from July and 11 percent below the level reported for August 2010, according to the latest RealtyTrac®  U.S. Foreclosure Market Report.

Wisconsin had  the 16th highest foreclosure rate in the country with one in every 674  housing units with a foreclosure filing in August.

Rock County posts top foreclosure rate in the state  for August
  One in every 358 housing  units in Rock County received a foreclosure filing in August — 1.6 times the  national average and 1.9 times the state average — the highest foreclosure rate  of all Wisconsin counties for the month. Columbia County had the second highest  rate of one in every 362 housing units with a foreclosure filing during the  month — 1.6 times the national average and 1.9 times the state average. Racine  County had the third highest rate of one in every 373 housing units with a  foreclosure filing during the month — 1.5 times the national average and 1.8  times the state average.

Milwaukee County has top foreclosure total in  August
  Milwaukee County led all  counties in total foreclosure activity, reporting 790 properties with  foreclosure filings for the month. Dane County was second highest, reporting 246  properties with foreclosure filings. Racine County was third, reporting 218  properties with foreclosure filings. Fourth highest was Waukesha County, reporting  211 properties with foreclosure filings. Brown County was fifth tallying 201  properties with a foreclosure filing.

State a moderate contributor to total foreclosure  activity in August
  Wisconsin accounted for 2  percent of the 228,098 properties with foreclosure filings reported nationwide  in August. Total U.S. activity increased by more than 7 percent from July, but was  down nearly 33 percent from the level reported in August 2010. One in every 570  U.S. housing units received a foreclosure filing during the month.

“The big increase in new foreclosure actions may be  a signal that lenders are starting to push through some of the foreclosures  delayed by robo-signing and other documentation problems,” said James Saccacio,  chief executive officer of RealtyTrac. “It also foreshadows more bank  repossessions in the coming months as these new foreclosures make their way  through the process.”

Report methodology
  The RealtyTrac U.S. Foreclosure Market Report  provides a count of the total number of properties with at least one  foreclosure filing entered into the RealtyTrac database during the month —  broken out by type of filing by state, county and metropolitan statistical area.  Some foreclosure filings entered into the database during the month may have  been recorded in previous months. Data is collected from more than 2,200 counties  nationwide, and those counties account for more than 90 percent of the U.S.  population. RealtyTrac’s report incorporates documents filed in all three  phases of foreclosure: DefaultNotice  of Default (NOD) and Lis  Pendens (LIS); Auction —  Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real  Estate Owned, or REO  properties (that have been foreclosed on and repurchased by a bank). If  more than one foreclosure document is received for a property during the month,  only the most recent filing is counted in the report. The report also checks if  the same type of document was filed against a property in a previous month. If  so, and if that previous filing occurred within the estimated foreclosure  timeframe for the state the property is in, the report does not count the  property in the current month.

For current news and information regarding foreclosure-related issues and  trends, check out our blog at www.ForeclosurePulse.com.


Wisconsin Top Foreclosure Rates By County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

n/a

n/a

Wisconsin

0

1,562

0

1,342

937

3,841

674

0.85

n/a

 

 

 

 

 

 

 

 

 

 

Rock

0

81

0

68

43

192

358

1.59

1.88

Columbia

0

39

0

16

16

71

362

1.58

1.86

Racine

0

108

0

54

56

218

373

1.53

1.81

Kewaunee

0

11

0

5

6

22

417

1.37

1.61

Kenosha

0

81

0

45

34

160

425

1.34

1.58

 

 

Wisconsin Top Foreclosure Totals by County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 11

% Chg Aug 10

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

7.21

-32.68

Wisconsin

0

1,562

0

1,342

937

3,841

674

-15.28

-10.53

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

391

0

270

129

790

519

-48.26

-10.73

Dane

0

111

0

77

58

246

872

12.84

-7.17

Racine

0

108

0

54

56

218

373

39.74

-28.76

Waukesha

0

85

0

71

55

211

746

-0.47

-8.26

Brown

0

78

0

79

44

201

516

18.93

-1.95

 

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